Arrow Electronics Inc. Proposed Senior Unsecured Notes Rated 'BBB-'

NEW YORK (S&P Global Ratings) Sept. 5, 2017--S&P Global Ratings today assigned its 'BBB-' issue-level rating to Centennial, Colo.-based information technology hardware and software solutions provider and semiconductor products distributor Arrow Electronics Inc.'s proposed unsecured senior notes due 2024. The rating is the same as our ratings on the company's existing senior unsecured notes. The company intends to use the net proceeds for general corporate purposes, including debt repayment. The company's proposed notes offering does not affect our 'BBB-' corporate credit rating on the company. We expect the transaction will not have a material impact on the company's pro forma leverage (including our surplus cash adjustment) at about 2.7x as of July 1, 2017. We expect leverage to decline to

...NEW YORK (S&P Global Ratings) Sept. 5, 2017--S&P Global Ratings today assigned its '###-' issue-level rating to Centennial, Colo.-based information technology hardware and software solutions provider and semiconductor products distributor Arrow Electronics Inc.'s proposed unsecured senior notes due 2024. The rating is the same as our ratings on the company's existing senior unsecured notes. The company intends to use the net proceeds for general corporate purposes, including debt repayment. The company's proposed notes offering does not affect our '###-' corporate credit rating on the company. We expect the transaction will not have a material impact on the company's pro forma leverage (including our surplus cash adjustment) at about 2.7x as of July 1, 2017. We expect leverage to decline to the low- to mid-2x area in the next 12-24 months as restructuring expenses roll off. At the current rating we expect the company will maintain leverage below 3x even when accounting for shareholder returns...

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